Silvergate (SI), a digital asset-focused investment bank, has announced that it will not pay dividends on preferred stocks this period in order to protect its existing capital.
silvergate January 27 In a press release published on 5.3% flat rate non accumulative Series A preferred stocks dividend payments has suspended reported. The company stated that this decision will be reflected in the balance sheets in the near future and that the current liquid asset of the balance sheet will be preserved.
Post FTX bankruptcy hard times passing company, of the board of directors market conditions in the future keep evolving as long as quarterly dividend He said he would reevaluate his payments.
On the other hand, according to Nasdaq data, after the announcement, SI 3.76% value by losing 13.58 from dollars while trading preferred stocks 22% depreciating 8.85 traded in dollars.
In the past few days, the year 2022 to the fourth quarter The company, which has made public its financial reports on 1.05 billion dollar loss for the same period of the previous year 18.5 million loss compared to the dollar increased 55 times.